Jacobson Partners

CKE Restaurants Inc., in an ongoing attempt to reduce debt, said Wednesday that it will sell its Taco Bueno unit for $72.5 million to Jacobson Partners, a closely held New York investment firm. Anaheim-based CKE, which also operates the Carl's Jr. and Hardee's fast-food hamburger chains, said proceeds from the cash sale should shave its debt, which once stood at a whopping $300 million, to less than $100 million.

CKE Restaurants Inc., in an ongoing attempt to reduce debt, said Wednesday that it will sell its Taco Bueno unit for $72.5 million to Jacobson Partners, a closely held New York investment firm. Anaheim-based CKE, which also operates the Carl's Jr. and Hardee's fast-food hamburger chains, said proceeds from the cash sale should shave its debt, which once stood at a whopping $300 million, to less than $100 million.

CKE Restaurants Inc. said Wednesday it expects a "substantial" loss in its fiscal first quarter, primarily from restaurant closings and the sale of its Taco Bueno chain to a private investment group. CKE lost $2.45 million a year ago. The struggling Anaheim company, which operates Hardee's and Carl's Jr. fast-food chains, agreed in March to sell its Taco Bueno restaurants for $72.5 million to an affiliate of Jacobson Partners, a private equity buyout firm.

CKE Restaurants Inc., which owns the Hardee's and Carl's Jr. hamburger chains, said Tuesday its loss widened dramatically in its fiscal first quarter and its second quarter also will be a losing one. The Anaheim company attributed the losses mainly to costs in closing and selling restaurants. The loss for the quarter ending May 21 grew to $37.1 million, or 74 cents a share, from last year's first-quarter loss of $2.45 million or 5 cents a share, the company said. Sales fell 19% to $471.

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